MANILA, Philippines - Manila police raided a building in Sta. Cruz, Manila Friday night, seizing various equipment used to manufacture fake P500 and P1,000 bills and arresting three members of a counterfeiting syndicate.
The raid on Room 301 of the La Residencia building was an offshoot of several complaints from the public regarding the proliferation of fake P500 and P1,000 bills, according to Manila Police District intelligence chief Superintendent Ernesto Fojas Jr.
Fojas tasked Chief Inspector Fernando Opelanio, head of the District Police Intelligence and Operations Unit, to conduct surveillance of the La Residencia building, which an informant identified as the source of the fake bills.
After three weeks, DPIOU operatives were able to buy three fake P500-bills for P150 each. A deal was then transacted for the delivery of 20 pieces of fake P500 for P3,000.
Richard Dan, alias Richard Tang, 38, the alleged leader; Ricky Chan, 45; and Roel Yacob, 41, were arrested during the raid.
Police officers seized five printer units, 14 bottles of water-based correction fluid, thirty bottles of assorted nail polish, a card reader, 29 ink cartridges of various colors, three silk screens, 14 pieces of syringes, a ream of special paper and 50 pieces of fake P500 bills.
“Anybody can be fooled to accept the fake bills. It almost looked identical with the real ones, complete with the water mark,” Fojas told reporters.
The syndicate members admitted running their operation for nearly three years, but said they only make counterfeit bills when there are ready buyers.
Fojas warned the public that some politicians might use the fake bills in vote-buying as Dan admitted having already printed several bundles for circulation before the raid.
Fojas said the seized materials will be sent over to the Bangko Sentral ng Pilipinas for proper disposition.
The arrested syndicate members are facing initial charges of illegal possession and use of false treasury or bank notes. – Nestor Etolle, Sandy Araneta